Factom Protocol summary texts

As a representative of the Marketing Committee, we have composed 50, 100 and 200 word summary text of the Factom Protocol. This text is intended as general wording around the protocol to be used in instances such as:

Events requiring wording on the Factom Protocol

Content in press releases

Requested text from media

Please note that is is difficult to include every element of 'why Factom' or to angle it specifically to an audience or industry. It has been composed to speak to the Factom audience of enterprise, government and developers, whilst indirectly speaking to the crypto community by creating the protocol vision, through potential.

Hi @Brooke Glew Thx for the innitiative. One question though. Did you talk to actual businesses bringing companies to the protocol? They have the expertise/knowledge about how to pitch Factom. I see several things in the wording that I know will not fly with (potential) customers (indisputable thruth, mentioning tokens, single entity etc). Certainly not on first encounters

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From experience I would also stick to mentioning fixed costs and the option to not touch crypto currencies. It takes more words to explain and comprehend the 2-token system. That is something we get into with clients, but that alone takes several minutes of conversation.

Great start on the blurbs, Brooke!
I agree with Niels’ feedback so far re: two token system, “indisputable truth”, etc.
Is this exclusively for enterprise, investors, and developers? As a high level blurb I’d aim for the absolute broadest reach possible, which would mean simplifying the language and giving the value prop more punch.

There’s an issue here and it also relates to the possibility of rebranding the protocol. With FAT and other additions to Factom’s tech stack we’re not just for data integrity and authentication anymore. We can do anything!

I don’t know if this is a problem for right now but how to we describe ourselves when we’ve got this core value prop but are suddenly a jack of all trades? 🤔

From experience I would also stick to mentioning fixed costs and the option to not touch crypto currencies. It takes more words to explain and comprehend the 2-token system. That is something we get into with clients, but that alone takes several minutes of conversation.

Hi @Neils Klomp .. yep this is why we're here, with the community to refine. In regards to the
Two token system, this was also expressed by @David Chapman when we were working through it. The last header of the doc is an alternative to mentioning the two token system... I included both so we can get feedback like you've provided here, thank you.

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Hi @Brooke Glew Thx for the innitiative. One question though. Did you talk to actual businesses bringing companies to the protocol? They have the expertise/knowledge about how to pitch Factom. I see several things in the wording that I know will not fly with (potential) customers (indisputable thruth, mentioning tokens, single entity etc). Certainly not on first encounters

Yes certainly people who were involved have actual businesses and others we sought for guidance also do. Appreciate any input on the doc you can provide from your perspective. Note that most of the time word count requested will be either 50 or 100 words. The 200 word will obviously go into more detail as when this word count is required it's an opportunity to provide more.

@Niels Klomp -- as Brooke mentioned, I also agree with you about the two token system. Thoughts on:

The fixed-cost, two token design of the protocol enables proper budgeting and subscription models where customers are not required to hold cryptocurrency as the system handles it in the background. This allows the protocol to operate as a global utility like the internet where the benefits are experienced at the application layer without customers having to deal with the underlying technology.

Yep. The wording was refined that is currently on the doc at the bottom. Specifically using the internet as a comparison I thought was confusing in a sense that you and I had to chat it out for it to be grasped and the audience reading would not be able to do this, but the explanation of not having to interact with crypto... clear!

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I had a long convo with a marketing committee member today. The main issues I tried to bring across were:

Don't talk about tokens at all. Focus on the fixed/stable costs for data on the blockchain. Focus on the fact that there is the option to not touch crypto at all. Beside the protocol itself that is our complete USP.

Companies want to budget everything. That is why all other cryptos don't work for a whole lot of use cases. Then you have that most companies do not want crypto assets on their balance sheets. So the message is simply. Fixed costs, allowing you to easily budget for your use cases with the option to not touch crypto at all.

The 2 token model is hard to grasp. We defer that to way later in convos. It is the unique feature that makes the above possible. But that is not the message you want to bring up in summaries.

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When talking about indisputable/non-repudiation you have to be really carefull. Those are really bold claims. Same as saying you record the truth, just because it is a blockchain. Yes a blockchain incentivices entities to record the truth, but you still have the garbage in garbage out problem. If I record I am the copyright owner of a certain file on Factom does that make it the truth?
So focus on the data integrity and validation parts of factom instead of pitchting it as the indisputable truth. You simply cannot uphold that And I get marketing is sometimes about tingling people

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"The Factom® Protocol is a decentralized, open-source data integrity protocol built by a coalition of technology companies that extends the security of blockchain to any data type. The protocol easily integrates with new and current systems, providing a low, fixed-cost source of indisputable truth and verification for businesses and governments."

"The Factom® Blockchain is trusted by US DHS, Bill Gates Foundation and other leading Enterprise across industries. Chosen for it's simple integration into existing software, without the need to download anything or buy cryptocurrency to use. It allows fixed dollar costs to accurately budget projects, whilst securing unlimited data."

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"The Factom® Blockchain is trusted by US DHS, Bill Gates Foundation and other leading Enterprise. Chosen for it's simple integration into existing software, without the need to download anything or buy cryptocurrency to use. It allows fixed dollar costs to accurately budget projects, whilst securing unlimited data.

By avoiding the risks evident in other protocols, the Factom® Blockchain provides a ready-to-use platform to quickly build solutions with a real value proposition. Frequently used to settle legal disputes in court, Factom has demonstrated its ability to act as the standard in data integrity for Government and Industry."

"The Factom® Blockchain is trusted by US DHS, Bill Gates Foundation and other leading Enterprise. Chosen for it's simple integration into existing software, without the need to download anything or buy cryptocurrency to use. It allows fixed dollar costs to accurately budget projects, whilst securing unlimited data.

By avoiding the risks evident in other protocols, the Factom® Blockchain provides a ready-to-use platform to create working solutions with a real value proposition. Frequently used to settle legal disputes in court, Factom® has demonstrated its ability to act as the standard in data integrity for Government and Industry.

Ahead of the curve, in both technology and governance, the Factom® Blockchain has quietly gained an enviable reputation amongst leading figures. With a developed community, and growing network, the protocol is ideally placed to tackle scalability and speed required by todays applications.

Additionally, through it's focus as a 2nd layer data protocol, the infrastructure can efficiently host Digital Identities, and Asset Tokenisation, opening up a range of possibilities for developers.

Factom® is on the brink of promoting blockchain up to it's original promise; a world changing technology, and an integral part of the digital future to come."